Ketamine One’s KGK Science Acquisition Provides Numerous Benefits
August 19th, 2021
App, Exclusive, Psychedelics, Top News
KetamineOne Capital Ltd. (NEO: MEDI) (OTC: KONEF) (FFT: MYO) (“Ketamine One” or the “Company”), a North American leader in mental health treatments with a growing network of clinics, recently announced that its newly acquired and wholly-owned subsidiary, KGK Science, has over US$2.3 million in net new revenue being secured from the month of July, as its backlog of business development opportunities comes to fruition.
Acquired just a few months ago, KGK Science is a clinical research organization, or CRO, that has helped companies design and conduct over 400 clinical trials spanning 25,000 patients. The subsidiary has nearly a quarter-century worth of experience in cutting-edge industries, including nutraceuticals, cannabis, and psychedelics.
The subsidiary’s prospective clients operate in the cannabis, food, non-profit, and pharmaceutical sectors and are interested in exploring topics like pharmacokinetics, cardiovascular, immunity, and serum IGF-1 concentrations. Meanwhile, its existing clients come from a wide range of industries and include both new and recurring customers.
“I am pleased with the recent increase in new business and am optimistic that the trend will continue over the near-term,” said KGK Science President and CEO Najla Guthrie in a recent press release. “KGK is positioned well to grow our business as part of Ketamine One, especially now also with access to the company’s clinic network.”
CFN Media recently spoke to Ketamine One’s Interim CEO Adam Deffett about the acquisition and why it’s so important to the company:
KGK Science has an extensive track record, blue-chip relationships, and robust cash flow. But more importantly, it enables Ketamine One to move upstream along the value chain from medical clinics to the point of designing clinical trials. The combined entity handles everything from designing clinical trials to administering treatments across 16 wholly-owned medical clinics.
“The acquisition of KGK is proving to have been well-timed and it continues to be a significant recent highlight for our company and our investors,” said Mr. Deffett in the same press release. “The combination of KGK’s industrious team with Ketamine One’s operating clinics and focus on technology is helping to accelerate our vision and goals.”
The KGK Science acquisition could also boost Ketamine One’s ambitions to acquire medical clinics. After all, many clinics are interested in a CRO-like operation that would provide them with a consistent source of revenue. At the same time, KGK Science benefits from a built-in patient population that doesn’t require outsourcing fees and eats into profitability.
Finally, the acquisition provides the management team with greater insight into the wider industry. KGK Science operates at the ground floor—when clinical trials are being designed—providing a view into what kinds of therapeutics may be coming down the pipeline and how effective they may be based on early clinical results.
Investors may want to keep an eye on the Company as its KGK Science business continues to grow. Management expects the momentum from new contracts to continue over the next 12 to 18 months. Meanwhile, the subsidiary also recently applied for a Controlled Substances Dealers License to support psychedelics-related clinical trials in Canada.
KetamineOne’s anticipated EBITDA targets by state. Source: Investor Presentation
Ketamine One aims to continue to acquire medical clinics across the United States where it can provide ketamine infusions and other therapies. Along with these clinics, the Company is developing cutting-edge technologies, such as virtual reality and wearables, to enhance and measure psychedelic experiences and improve outcomes.
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